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Looks like the game was stopped.


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#1 brucekeller

brucekeller

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Posted 25 March 2021 - 07:41 AM

Someone had said Gamestop was like a tongue-in-cheek thing about the game being stopped.

 

Almost seems like that was right.  Gamestop was pushed up by some really big players, couldn't have just been retail kids.  Then the attention from that brought in literally millions of new investors.  You can see it just by how much WallStreetBets grew.  From 1.5 million to over 9 million.  Many shorted stocks had extremely unusual volume and movement in late Jan, way more than just retail could have done.  I got bearish but at the wrong times and got screwed on QQQ's first bounce off its 2020 trend, should have paid better attention.    Now that the stim checks went out and a whole young generation pumped it into crypto and growth tech stocks, the rug is finally being pulled.  Big money punked a whole generation.   Plenty of stocks could take an 80% haircut from here and still be 3-5x what they were a year ago. By the time it's over, China probably won't even care if a bunch of their crappy stocks get delisted for not sharing accredited audits.   I just hope the plunge is pretty fast and not drawn out over a year or something, but maybe that's what the Fed is there for, to prevent an all out market crash. I could almost see next quarter being a bunch of plunges followed by ripping rallies.  At least should be good for short term trading, but I'm not going to try to swing trade that long, few days at a time max.